ITAT Pune overturns 80G rejection for Heritage Youth Foundation, ruling that the “commencement of activities” timeline applies to new trusts, not existing ones seeking provisional approval.
The ITAT, Pune, rules that a clerical error in a trust’s registration application is a rectifiable mistake. The tribunal directs the CIT (Exemption) to reconsider the application on its merits, setting a precedent for similar cases.
ITAT Pune held that interest income earned by cooperative society on deposits made out of surplus funds with cooperative banks qualifies for deduction under the provisions of section 80P(2)(a)(i). Accordingly, appeal of assessee allowed.
ITAT Pune held that addition by invoking provisions of section 43CA of the Income Tax Act cannot be sustained since the difference between the Stamp Duty Value and agreement value is less than the allowable limit of 5%.
Pune ITAT restores Action For Impact Foundation’s 80G application, setting aside CIT’s rejection on delay grounds. Matter to be reconsidered on merits.
ITAT Pune rules on Faurecia Automotive Holding case, clarifying FTS and Royalty taxation. Reverses AO’s order on seconded employee reimbursement and global support services.
ITAT Pune held that disallowance under section 40(a)(ia) of the Income Tax Act cannot be sustained interest income is already reflected in the return of the deductee and tax is already paid on the same. Accordingly, appeal allowed to that extent.
Assessee-trust registered under Sections 12A and 80G had filed its return of income for Assessment Year (AY) 2017-18 declaring nil income. The return was processed under Section 143(1), and the case was selected for scrutiny under CASS.
ITAT Pune allows a petrol pump owner’s appeal for statistical purposes, citing consultant’s lapse in communication and directing re-examination with fair opportunity due to best judgment assessment.
ITAT Pune rules unregistered trusts are taxed only on net income, not gross, even with ITR filing errors, emphasizing substantive justice.
